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JLG Boosts Fiscal Second Quarter Sales 6.4 Percent

JLG, the access equipment segment of Oshkosh Corp., reported net sales in the second quarter of fiscal 2019 of $987.6 million, a 6.4-percent increase.

JLG, the access equipment segment of Oshkosh Corp., reported net sales in the second quarter of fiscal 2019 of $987.6 million, a 6.4-percent increase. The increase in sales was because of increased sales volume and higher pricing in response to higher material costs. Sales grew in all regions in the second quarter of fiscal 2019, led by the Pacific rim.

Access equipment segment operating income in fiscal Q219 increased 22.7 percent to $119.8, or 12.1 percent of sales, compared to $97.6 million, or 10.5 percent of sales, in the second quarter of fiscal 2018. The increase in operating income was primarily the result of improved pricing, the impact of higher sales volume, the absence of restructuring-related expenses, and improved operational efficiencies, including fewer supplier disruptions, offset in part by higher material costs. The second quarter of fiscal 2018 also included a benefit of $7.7 million related to the recognition of deferred margin upon the receipt of cash from a customer on the cost recovery method of accounting.

Oshkosh Corp. as a while reported $1,990.2 million in revenue for the fiscal second quarter compared to $1,886.4 million in the year-ago quarter, a 5.5-percent increase.

 

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